Chelsea co-owner Boehly part of $10bn NBA deal for LA Lakers October 28, 2025 Todd Boehly is part of the $10bn deal to buy the LA Lakers alongside Chelsea co-owner Mark Walter. Walter had agreed to purchase a majority stake in the NBA side earlier this year in a deal that would value the franchise at $10bn. But Front Office Sports reports that Chelsea consortium frontman Boehly is part [...]
Barbarians: Inside rugby team playing All Blacks in London this weekend October 28, 2025 The Barbarians are taking on an All Blacks XV this weekend at Premier League club Brentford’s Gtech Community Stadium in London. Rugby’s financial structure is bizarre at the best of times: on one hand you’ve got teams playing every week struggling to make ends meet, and on the other hand you’ve got the British and [...]
Eastern Airways: UK regional airline suspends operations October 28, 2025 Eastern Airways has cancelled all of its flights, with the Civil Aviation Authority (CAA) announcing that it has suspended operations. Travellers booked onto upcoming flights have been warned not to go to the airport, with the CAA urging passengers to “make their own alternative travel arrangements via other airlines, rail or coach operators”. The airline [...]
Rachel Reeves set for £20bn OBR productivity downgrade October 28, 2025 Rachel Reeves’ ballooning fiscal black hole is set to deepen as the fiscal watchdog hands the Chancellor its final productivity forecast on Friday. The Treasury is already battling to contain public finances after a U-turn on welfare reforms ruined hopes of £5bn in savings, and a £190bn spending splurge on government departments helped erode the Chancellor’s wafer-thin [...]
Transparency concerns as FCA makes short sellers anonymous October 28, 2025 Firms short-selling UK-quoted companies will no longer have to reveal their identities in the latest deregulation drive by the UK’s financial watchdog. The Financial Conduct Authority (FCA) is consulting on a rule change to suspend disclosures of the companies that hold a short position in listed businesses, instead only publishing the total short positions in [...]
HSBC: FTSE 100 lender’s profit slumps as legal costs jump October 28, 2025 Europe’s biggest lender, HSBC reported better-than-expected revenue in the third quarter, but recorded a double digit decline in profit as it set aside over a billion dollars following a fresh ruling on the Bernie Madoff fraud scheme. HSBC’s pre-tax profit fell to $7.3bn (£5.4bn) in the three months to September 30, a fall of nearly [...]
FTSE 100 live: HSBC takes profit hit, fresh food inflation rises October 28, 2025 Good morning from the City AM liveblog team. It may have been more than 15 years since he was convicted and four years since he died, but legendary fraudster Bernie Madoff is still making headlines. Yesterday it was the turn of British banking giant HSBC to unveil the scale of its exposure to business connected [...]
Nik Storonsky-backed Robin AI seeks rescue buyer after fundraise falls short October 28, 2025 An AI business backed by the likes of Revolut co-founder Nik Storonsky is seeking a rescue buyer after its fundraising ambitions fell short, City AM can reveal. London-based legal firm Robin AI has been put up for sale on an insolvency marketplace – meaning its future could be in doubt if a buyer is not [...]
Mining boss: Journey from Aim to main market ‘too difficult’ October 28, 2025 The mining boss behind the London main market’s newest member has said his firm would not have transferred from Aim had he known how complicated the process would be, despite the junior market partly existing to act as a stepping stone to London’s principal exchange. Cobus Loots, the chief executive of South African-based gold miner [...]
The man on a mission to save the internet October 28, 2025 Search engines and publishers used to operate on a simple deal: publishers would let the likes of Google trawl their site, and in return Google would give them traffic. With the advent of AI, that deal is all but dead, leaving the internet’s old model under existential threat. Ali Lyon meets Matthew Prince, the man [...]